Downtown Cincinnati is the heart of the growing and vibrantCincinnati Usa region. As the front door to the region, the CentralBusiness District (CBD) along with its neighboringcommunities— Over-the-Rhine, the West end, Pendleton, and Mt.adams— continued to grow and evolve to meet the needs of itsmany visitors, residents, employees, and property owners.
Downtown Cincinnati Incorporated (DCI) with the collaborationand assistance of many public and private partners, researches,compiles, and publishes the State of Downtown Report annually. Inits sixth year of publication, the State of Downtown Reportprovides a comprehensive profile of the various downtown markets:Development Projects; Office and employment; retail and restaurant;residential; Conventions and Hotels; arts, Culture andentertainment; safe and Clean; and access and Parking.
2009 was a challenging year globally, nationally, andlocally. the economy was less than optimal and made successdifficult across nearly every industry. However, downtownCincinnati continued to seek innovative ways to maneuver theeconomic trials of the 2009 economy.
The national retail market faced a number of obstacles butdowntown retail and restaurants remained relatively stable. In theoffice and employment market, the commercial brokerage communityfaced a variety of challenges including high vacancy rates, butbegan to see companies hiring again, which led to lease renewalsand expansions.
Although the housing market remained in flux throughout 2009,downtown Cincinnati’s residential market was steady incomparison to other markets. Development projects slowed slightly,but the continued progress of major developments such as the Banks,Queen City tower, and the Over-the-rhine revitalization contributedto downtown’s continued positive momentum.
Arts, culture, and entertainment venues continued to bringmany visitors to downtown—a direct complement to the recordsetting convention attendance. While hotel occupancy was not at itshighest level, downtown hotels averaged better results whencompared nationally and regionally. the presence of morepedestrians on downtown streets, both during the daytime andevening hours, was due to many of the above mentioned factors, plusthe compact walk-ability of downtown, availability of low costparking, and the safe, clean, and welcoming environment.
The following pages provide detailed statistics in eachmarket mentioned above. For more information or to give feedbackregarding the information in this report, please email sODreport@downtowncincinnati.com.